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Sierra Metals Submits An Application To Graduate To The TSX And Announces Appointment Of Chairman

Daniel Tellechea, President and CEO of Sierra Metals, commented " We thank Mr. Dean for his contribution as Chairman as he has been integral to the Company's recent success as a growing mid-tier precious and base metals producer. Mr. Dean will continue to contribute to the Company as an active board member on several committees. We also welcome J. Alberto Arias as the recently appointed Chairman who brings an extensive amount of knowledge and experience in mining that will help the Company continue to expand its operations in Peru and Mexico."

Restricted Share Unit Plan

The Company also advises that, as of January 1, 2013, the Board has granted to its directors and officers an aggregate of 664,690 restricted share units vesting over the next three years.

About Sierra Metals

Sierra Metals is a Canadian mining company focused on precious and base metals from its Yauricocha mine in Peru and its Bolivar mine in Mexico. The Company is also advancing its Cusi silver project in Mexico from advanced development into commercial production. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico. Projects in Peru include Adrico (gold), Victoria (copper-silver) and Ipillo (polymetallic) at the Yauricocha Property in the province of Yauyos. Projects in Mexico include Bacerac (silver) in the state of Sonora, La Verde (gold) at the Batopilas Property in the state of Chihuahua, and Las Coloradas (silver) at the Melchor Ocampo Property in the state of Zacatecas.

The Company's common shares trade on the Bolsa de Valores de Lima and the TSXV under the symbol "SMT".

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", which involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect the Company's ability to execute its current business plan.  Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

SOURCE Sierra Metals Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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